The basketball shoe market is anticipated to record a value of USD 2,761.5 million in 2024. The industry is projected to witness a CAGR of 3.8% in the ten-year time frame. The revenue projection for basketball shoes is going to be USD 4,013.6 million by 2034.
Basketball, a world-renowned and recognized sport, is a prominent driver of the footwear industry. Many leading brands certainly have a dedicated basketball imprint among their offerings. Moreover, Jordan, Nike, Adidas, Under Armour, New Balance, etc. all boast of signature athletes that at present star in the NBA, inviting All-Star endorsements to their featured product.
Additionally, a host of new signature shoes are unveiled each year, alongside non-signature offerings. These market dynamics are fueling the basketball shoes’ demand.
In the year 2024, basketball footwear is going to witness intense innovations and become more stylish. The remarkable blend of trailblazing technology with diverse design elements is going to revolutionize the way basketball sneakers are viewed both on and off the court.
The combination of fashion-forward trends and performance-enhancing features in basketball footwear is expected to reflect the various needs of contemporary athletes. Additionally, the pivotal trends in the market and the release of the latest models are shaping consumer preferences as well as redefining the standards of athletic footwear.
Based on region, the basketball shoe market is predicted to be led by North America. The prominence of North America is due to the wide popularity of basketball at college, high school, and professional levels. A strong culture of basketball and the increasing purchasing power of people in the region are propelling regional growth.
The dominance of brands like Nike and Jordan was reflected in the National Basketball Association (NBA) where more than half section of the players used these brands’ shoes. While industry giants still enjoy a dominant role, marketspace for new players is being created as demand for a wider variety of shoes, spanning high-tops to low-tops, is increasing.
Market segmentation of basketball shoes based on applications, including daily wear, amateur sports, and competition, is highlighting the wider appeal of basketball shoes beyond the court into fashion and casual wear.
Attributes | Description |
---|---|
Estimated Basketball Shoe Market Size (2024E) | USD 2,761.5 million |
Projected Basketball Shoe Market Value (2034F) | USD 4,013.6 million |
Value-based CAGR (2024 to 2034) | 3.8% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Resurgence of Retro Designs to Impact the Basketball Shoe Sector
The basketball shoe industry is witnessing a resurgence of retro designs. These designs have been reimagined with modern performance features. Thus, creating a blend that appeals to modern basketball requirements and nostalgia. These designs have gained appeal among Generation Z, a group recognized for their distinct aesthetic sensibilities, who are intrigued by a mix of new and old styles.
The popularity of this trend is further amplified by endorsements by fashion icons and celebrities, who have made retro-styled basketball shoes mainstream from a niche interest. Thus, marking a prominent shift in fashion trends.
Players to Play Along Smart Technology to Smarten their Offerings
Basketball shoes are being integrated with smart features. Brands like Nike are emerging as frontrunners when it comes to technology like embedding sensors and connectivity options that give data about real-time performance.
For instance, Nike Adapt BB revolutionizes the industry with its self-lacing mechanism, FitAdapt technology, and pressure sensors, all managed with a smartphone app.
With the help of this technology, brands not only enhance product performance but also provide valuable insights for more design enhancements. These technological advancements showcase technologies’ potential to elevate athletic performance.
Women Players to Increase in Future
Participation of women is expected to surge in sports, due to reasons like fitness and health. As more women play sports to enhance their lifestyles and health, the demand for female-oriented basketball sneakers is expected to gain wider attention.
Another driver for women in sports is the support given by esteemed organizations to promote women's participation in sports. Schools take an interest in promoting their female students to play as a hobby, or in inter or intra-school competitions.
Global basketball shoe sales rose at a CAGR of 3.4% from 2019 to 2023. Through 2034, the industry is projected to expand at a 3.8% CAGR. The market is primarily driven by the surging interest in basketball, especially among the younger generation.
This athletic footwear is particularly designed to optimize performance while playing basketball. Focus is given to aspects like comfort, support, stability, and traction to reduce the likelihood of injuries while playing this high-impact and fast-paced sport. These factors drive the sales of basketball shoes among amateur or professional basketball players.
Basketball shoes are a profitable section of the athletic footwear industry, characterized by its constant celebrity endorsements, innovations, and a large fan base. Leading brands intensely compete in this market, introducing the latest designs and technologies to enhance performance and style to reflect the sport’s cultural significance.
The increasing popularity of professional basketball leagues, especially the NBA, and the impact of eminent athletes in influencing customer preferences and likes are key drivers for this industry.
Top brands are further enhancing basketball shoe designs with technological improvements like lightweight materials and improved cushioning. Performance-driven and fashion-forward basketball shoes are a key component of the athletic footwear landscape, serving professional players as well as a wider consumer base.
The table below offers quantitative insights into the adoption of basketball shoes in key markets. Upon inspection, it can be concluded that developed countries like Germany and the United States have started showing moderate sales of basketball shoes, as the market is becoming mature. Meanwhile, the demand potential for basketball shoes is significant in countries of Asia Pacific.
Countries | CAGR 2024 to 2034 |
---|---|
The United States | 4.3% |
Germany | 5.5% |
China | 5.8% |
India | 8.3% |
Australia | 6.8% |
Basketball enjoys wide popularity across the United States. Since basketball originated in the country in 1891, this sport is a matter of national pride. Basketball is present everywhere, from professional and college leagues to elementary school playgrounds. Their widespread popularity has accelerated the demand for basketball shoes among basketball players.
The National Basketball Association (NBA) also plays a key role in popularizing basketball across the country. It does so by employing innovative promotions and marketing. Thus, developing campaigns that resonate with fans across the globe.
The campaigns also feature shoes from leading brands like PUMA, Jordan, Nike, etc. Sales of basketball shoes in the United States are expected to expand at a 4.3% CAGR over the forecast period.
Even though basketball is a comparatively less famous sport in India than cricket and football, the last few years have been critical for basketball’s popularity. NBA is marketing basketball in India.
The association is also providing help in terms of training and infrastructure. The association entered India in 2017 by establishing a basketball school in Mumbai. The association has since expanded across NCR, Greater Noida, and Pune.
Good reception of basketball in India is fueling the sales of basketball shoes in the Indian economy. Basketball shoe brands hold a lot of potential in India. By 2034, manufacturers can expect a growth rate of 8.3%.
The basketball shoe sector in Australia is expanding at a CAGR of 6.8% over the forecast period. Basketball stars are inking contracts with popular brands to escalate brand recognition among the masses. New lines from leading brands like Converse, Nike, Adidas, etc. feature in-line styles and signature models.
Top brands sell their collection beyond their brick-and-mortar stores and on virtual platforms. These platforms stock responsive basketball shoe collections and also offer the facility of free delivery and returns. Players are further focused on the latest innovations and increasing performance style to increase sales of basketball shoes.
The section below provides key details about the growth drivers for leading segments in the industry. In the closure type segment, the laces type is expected to gain a massive share of 45.3% in 2024. By product type, the high-top shoe segment is predicted to obtain a prominent holding of 48.3% in 2024.
Segment | Laces Type (Closure Type) |
---|---|
Value Share (2024) | 45.3% |
Lace-up shoes are the dominantly preferred and worn footwear. The basic tying mechanism of shoes with laces makes them durable and adjustable for wearers. Their high preference has led them to attain a share of 45.3% in the global market.
The snug fit of the shoe around the midfoot, afforded by these laces, enhances the feel and responsiveness of the court. Thus, allowing more control over movements.
Laces have a critical role in sports like basketball as they ensure that the shoe stays securely on the wearer's foot during explosive movements. For comparison, a slip-on shoe is likely to come off during a quick stop or a jump, leading to loss of momentum as well as potential injury.
Segment | High-top Shoe (Product Type) |
---|---|
Value Share (2024) | 48.3% |
High-top shoes are expected to garner a share of 48.3% in 2024. These variety of shoes are quite popular among professionals in the game as they provide comfort and injury prevention capabilities. These shoes are extremely versatile when it comes to styling. This has magnified their demand among recreational and professional players across the globe.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Key players in the basketball shoe sector are employing various strategies to stir consumer interest. For instance, brands are investing in athlete endorsements as it is a proven way to capture consumer attention and foster brand loyalty.
While designing basketball shoes, players also take into account the latest fashion and streetwear trends to gain relevance among the masses. eCommerce trends are also impacting the basketball shoe market. Consumers are increasingly purchasing these shoes from online sites.
In basketball shoe manufacturing, players are investing in cushioning technologies and innovative materials to enhance their product offerings. Many players are now actively participating in sustainability initiatives, by using eco-friendly materials or partially using recycled content. Due to these aspects, they are drawing an eco-conscious crowd who play basketball.
Industry Updates
Based on product type, the industry is divided into high-top shoes, mid-top shoes, and low-top shoes.
By application, the market is trifurcated into sports, lifestyle, and competition.
Common closure types of basketball shoes include laces, Velcro, straps, and zippers.
Based on consumer orientation, the industry is bifurcated into men and women.
Various sales channels for basketball shoes include multi-brand stores, independent small stores, online retailers, and other sales channels.
The basketball shoes are sold across North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
The industry is going to be worth USD 2,761.5 million in 2024.
The current forecast projects a CAGR of 3.8% for the industry.
The industry to expected to reach USD 4,013.6 million by 2034.
The high-top shoes are expected to account for a significant market share.
India and Australia are predicted to offer opportunities for investors.
Adidas Group and Nike Inc. are influential industry players.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Pricing Analysis
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
6.1. Product Type
6.2. Buyer Type
6.3. Closure Type
6.4. Consumer Orientation
6.5. Sales Channel
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type
7.1. High Top Shoes
7.2. Mid-Top Shoes
7.3. Low Top Shoes
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Buyer Type
8.1. Individual
8.2. Institutional
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Closure Type
9.1. Laces
9.2. Velcro
9.3. Straps
9.4. Zippers
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Consumer Orientation
10.1. Men
10.2. Women
10.3. Unisex
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel
11.1. Multi-Brand Stores
11.2. Independent Small Stores
11.3. Online Retailers
11.4. Others
12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
12.1. North America
12.2. Latin America
12.3. Western Europe
12.4. South Asia
12.5. East Asia
12.6. Eastern Europe
12.7. Middle East & Africa
13. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
18. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
19. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
20. Sales Forecast 2024 to 2034 by Product Type, Buyer Type, Closure Type, Consumer Orientation, and Sales Channel for 30 Countries
21. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
22. Company Profile
22.1. Adidas Group
22.2. Nike Inc.
22.3. New Balance
22.4. ASICS
22.5. PUMA SE
22.6. Under Armour, Inc.
22.7. Li Ning Company Ltd.
22.8. ECCO
22.9. China Dongxiang (Group) Co., Ltd.
22.10. 361 Degrees International Limited.
22.11. Vans
22.12. Converse
Explore Consumer Product Insights
View Reports